IS MARKET RESEARCH IMPORTANT FOR BUSINESS ?

Market Research is the systematic collection of informations on customers and competitors .
There are 2 types of market research a business used . Those are :

  1. Primary Market Research
  2. Secondary Market Research

1. Primary Market Research

Primary Market Research is also known as Field Market Research . In this market research the marketer go on the market to collect informations which signifies that the business have direct contact with the customers .

The informations collect from primary market research are in 2 forms , those are
Quantitative and Qualitative date . Quantitative data is expressed by numerical term and qualitative is the opinion and judgment .

Why is Primary market research important for a business ?

  1. Using this type of market research help the business to get up to date informations about consumers wants and needs .
  2. The informations collected will be confidential to the business only .
  3. The information will be more accurate .

However there also some disadvantages associated with the primary market research these are :
  1. Primary research tend to be more time consuming
  2. Bias information may be collected
  3. It can be more costly

2. Secondary Market Research

This type of market research is also know as "Desk Market Research" . It is the collection of existing information which is known as second hand informations . There are 2 type of secondary market research , these are the internal and external market research . In the internal market research the business take existing information from the business itself and in the external the business take information outside the business for example from the Internet .


Why is Secondary market research important for a business ?

  1. Newly set up business can used this type of research as it is less costly .
  2. Less time consuming .
  3. Can make comparison as there is different source of information .
However there also some disadvantages associated with the secondary market research these are :
  1. Informations are outdated
  2. Information available is not confidential as competitors also can get access
  3. Informations are not accurate

Credit : BI


5 Richest Blogger




5. Matt Marshall

In September 2006 , Matt Marshall launched a blog site known as "VentureBeat". This blogs covers all things on entrepreneurs and tech innovation . This man was also know as a successful journalist before he launch VentureBeats . Matt Marshall easily earn around $50,000 - $100,000 per month .

4. Gina Trapani

Gina Trapani is one of the most influential woman in the technolgy world . She is the founder and CEO of the popular blog site "LifeHack" . In 2005 , site launched the blogs site know as  lifehack.com , which contain a lot of thing about technologies and softwares . Gina is very active in social media community . Gina is one of the woman who have earn a lot of money by blogging . She was earning around $110,000  per month .Now Gina is leading a development  of  ThinkUp .

3. Mario Armandi Lavendeira Jr ( Perez Hilton )

Mario Armando is a well know blogger of the site  perezhilton.com . In his blogs he covers all the gossip items about the celebrities . He is also know as a television personality and an author . Mario was born on 23 March 1978 and after his graduation from New York University , he started his blogging careeurs . Now Mario alias as Peras Hilton earned around $200,00 - $400,000 per month .

2. Pete Cashmore

Pete Cashmore was one of the youngest blogger . At the age of 19 , he was the founder of Marshall . A site which focues on the topics like social media , technology and lifestyle . Now he employed around 120 employees to work with him . Pete Cashmore earn around $500,000 - $600,000 per month .

1. Michael Arrington

Michael Arrington born on 13 March 1970 , is one of the highest paid blogger around the world . Michael is the founder of  "Techcrunch" , a blog covering the Silicon of Valley technology Startup communities and wider technology field . Michael Arrington earn around $500,000 - $800,000 per month .

Credit : BI

SELF MADE MILLIONAIRE




6. ROBERT MFUNE

At 16 years old , Robert was working part time job at McDonald's and was learning the basic of Binary Trade . After learning , at the age o 17 he started trading . As he was doing well he decided to quite his so as to focus more on the Binary Trade . Now through the success of Binary Trade , he own a car worth $250,000 and he has also invested in many coffee shop all around in London . Robert Mfune also have is own property before the age of 20 .

5. BEN KAPELUSHNIK

At 16 years old Ben Kapelushnik has found a way to capitalize in the $1-2 Billion resale market . Ben is the founder of sneakerdon.com which resale customized and hard find sneakers . He sell sneakers to his famous client like Travis Scott which help him to makes the most money .

4. ASHLEY QUALLS

Ashley Qualls was 14 and she was learning how to code in HTML by herself . Later she decide to create a website called whateverlife.com . At first she was not getting much visitors , so she uses a trick by offering her design to her peer for their my space layout which increases site visitors and thus she was able to earn a huge amount from google adsense .

3. MOHAMMED ISLAM

At 9 years old , Mohammed Islam took interest in dabbling in penny stock . He was so good in trading that by the age of 17 , he was able to acquire $72 million and was able to awn a BMW at an early age .

2. BEN PASTERNAK

Ben Pasternak is a guy who is drop out from school . A the age of 16 he was already the CEO of an apps called FLOG . FLOG is an apps where users are allows to buy and sell within their social network with just a swipe .

1. NICK D'ALOISIO

Nick is a computer guy . He was teaching himself computer programming by reading books and watching videos online . At the age of 15 he developed an apps called TRIMIT which make him earn $300,000 with . Then at the age of 17 he made another apps "SUMMLY" which he sold to Yahoo at an estimate price of $30 million . Nick D'Aloisio was also awarded the "Innovator of the year" at an early age .

Those are the self made millionaire . Follow your dreams and be one of the self made millionaire .

Credit : BI

" Saygin Yalcin " An Inspiring Entrepreneur


The mindset is the number 1 success factor 

We all have heard of business heroes , " Saygin Yalcin " is one of them .

Born on 25 April 1984 , Saygin is know as one of the youngest successful entrpreneur .
Being the founder and CEO of the company sellanycar.com , Yalcin was able to create his name in the business World .

Sellanycar.com is the first internet base market where you can sell any car within 30 minutes at a commision free rate and is also Founder of the first and largest online private shopping club in the ME, Sukar.com, which has been acquired by Souq.com, making him Partner at the Souq.com and Jabbar Internet Group, becoming the largest Ecommerce company in the Arab world, with 3000 plus employees.

Saygin Yalcin also provide financial help for new start up business by reviewing their business ideas .
To be able to discuss you ideas you just need to register on the site www.startuphero.com which is totally free .

In May 13 , Saygin was referred as the best online businesman by National Newspaper in Dubai and  in March 14 the Arabian Business reward him as one of the best young entrepreneur. Saygin was also selected as of of the top ten entrepreneur and his website was awarded as technology innovator of the year. 


Yalcin has also  been given a position as an Advisory Board Member and Academic Lecturer of Entrepreneurship at the Canadian University of Dubai where he conducts guest lectures. He is recognised as a UBS industry leader due to his considerable fortune and involvement in the community. His wealth is estimated in the $100,000,000s and financial experts predict that he will be able to break the $1,000,000,000 net worth barrier at some point in his career. He is a respected businessman and his patient strategies have been analysed around the world.

The businessman also have a youtube channel over 500000 subscribers . The channel produce a show called Startup Hero where viewers get chance to tell their business ideas .Saygin Yalcin also upload regular videos with his friend Mo Vlog and Money Kickz doing different activities .



Facebook : Saygin Yalcin


Startup Hereos :












Credit : BI